Melbourne, Dec 17, 2008 AEST (ABN Newswire) - Metminco Limited (ASX:MNC) provide and exploration update on RC Drilling results from Grant Creek.
Single metre assay results from recent drilling on the Perseverance Prospect have returned intercepts including 15m @ 4.2 g/t, 5m @ 5.87 g/t, 6m @ 6.13 g/t and 3m @ 7.88 g/t gold
Peak individual samples include 17.8 g/t, 20.7 g/t, 12.8 g/t and 15.25 g/t gold
The drilling indicates the presence of a central higher grade mineralised structure with peripheral stringer zones
Grants Creek Project - Perseverance prospect
(Metminco earning up to 70% from Pacrim Energy Limited.)
Single metre fire assay results up to 20.7 g/t gold have been received from the recent reverse circulation drilling program carried out on the Perseverance prospect at Grants Creek WA.
Many high grade gold assays were returned from zones where composite samples had previously indicated the presence of gold mineralisation.
The best intercepts of 15m @ 4.2 g/t, 5m @ 5.87 g/t, 6m @ 6.13 g/t and 3m @ 7.88 g/t gold, included peak one metre split assays of 17.8 g/t, 20.7 g/t, 12.8 g/t and 15.25 g/t gold respectively.
These single metre results indicate the presence of a main mineralised structure with adjacent lower grade stringer zones. The existence of multiple mineralised zones enhances the project by increasing the potential mineable width.
A list of significant assays is shown in the attached table.
Perseverance Single Metre Assay Drilling results >1.0 g/t Au
--------------------------------------------------------------Hole_id East North Az/Dip From To Interval and Assay g/t gold--------------------------------------------------------------GRC-001 385001 8028095 328/-75 6 9 3m @ 5.96 g/t Au 7 8 incl. 1m@ 15.40 g/t Au 23 28 5m @ 1.61 g/t AuGRC-002 385004 8028079 328/-60 30 34 4m @ 5.61 g/t AuGRC-003 384982 8028076 328/-60 33 41 8m @ 2.14 g/t AuGRC-004 384988 8028066 328/-60 39 42 3m @ 1.86 g/t Au 51 66 15m @ 4.2 g/t Au 58 59 incl. 1m@ 17.80 g/t AuGRC-006 384952 8028076 328/-60 19 23 4m @ 2.83 g/t AuGRC-007 384956 8028067 328/-60 31 36 5m @ 5.87 g/t Au 31 32 incl. 1 m @ 20.7 g/t AuGRC-008 384963 8028055 328/-60 57 63 6m @ 2.08 g/t AuGRC-009 384924 8028071 331/-60 13 19 6m @ 6.13 g/t Au 16 17 incl. 1 m @ 12.8 g/t AuGRC-010 384929 8028059 328/-60 26 29 3m @ 7.88 g/t Au 27 28 incl. 1 m @ 15.25 g/t AuGRC-011 384933 8028046 354/-60 44 46 2m @ 0.79 g/t AuGRC-012 384900 8028064 328/-60 11 15 4m @ 2.41 g/t AuGRC-014 384965 8028103 148/-60 8 29 21m @ 2.74 g/t Au--------------------------------------------------------------
Zone 52 GDA 94. 1m samples fire assayed by On-site Laboratories
The Perseverance prospect is the first of the targets to be drill tested on the Grants Creek project. Previous exploration by Metminco has revealed a mineralised horizon three kilometres in strike length. More strongly mineralised zones are apparent where cross faults intersect this horizon. Further drilling on the Perseverance and Moody's prospects is planned for early 2009.
Contact
Keith Weston
Managing Director
TEL: +61-428-312-767
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